How is Brexit impacting the cost of living?
Scotland overwhelmingly voted against Brexit, but it was imposed by the Tories and now backed by Labour – resulting in long-term economic decline of the UK and exacerbating the cost of living crisis.
Essentially, people in Scotland are forced to pay the price of Brexit, as everyday costs rise.
The UK imports more than it exports, and when the pound got weaker after the Brexit referendum, imports got more expensive – and so did the basic items like food or clothing.
The uncertainty of Brexit, and the extra trade barriers created by it, meant that businesses are struggling to stay afloat – making it more difficult to export and to get raw materials from Europe.
And as things get more expensive, wages get negatively impacted by Brexit.
According to the OBR, the UK’s productivity will be 4% lower compared to if we hadn’t left the EU.
This then results in falling wages – a loss of around £470 per average worker every year.
And the recent report by the Resolution Foundation and London School of Economics shows UK workers are missing out on over £10,000 a year, with UK living standards falling behind other G7 nations, as well as Australia and the Netherlands.
Scotland didn’t vote for Brexit but its people are feeling the pain of this disastrous policy. Only with independence can Scotland have the power to rejoin the world’s largest single market and reverse the damage of Brexit.